SALE/LEASEBACK WOULD ADD 14 SENIOR FACILITIES By Murray Wolf Nationwide Health Properties Inc. (NYSE: NHP) says it expects to close this month on a $171 million sale/master leaseback announced Oct. 6. NHP said that it had agreed to acquire from, and triple-net master lease back to, Senior Residential Care and Wingate Healthcare 13 skilled nursing […]
RURAL OHIO HOSPITAL BALANCES NEEDS AND COSTS WITH CAREFUL PLANNING By Jessica Griffith Mercy Hospital of Tiffin is coping with a problem not uncommon to small, community hospitals. Founded by the Sisters of Mercy in 1913, the hospital in Tiffin, Ohio, located in the northwest part of the state, is struggling with an aged building, […]
NEW PROJECTS STARTING TO TAKE SHAPE FOLLOWING SLOWDOWN IN BEANTOWN By John Mugford The “Curse of the Bambino” lasted nearly nine decades – starting back in the early part of the 20th century when Babe Ruth was sold to the New York Yankees by the Boston Red Sox. But when Boston’s beloved baseball team finally […]
DALLAS – Tenet Healthcare Corp. (NYSE: THC) announced several personnel moves in October and November. CFO Robert S. Shapard decided to rejoin Dallas-based TXU Corp. (NYSE: TXU), where had worked for 20 years before joining Tenet in March. Mr. Shapard, who planned to leave Tenet in early November, plans to serve as a strategic advisor […]
HOUSTON – Crimson Capital Ltd. has announced the formation of Crimson Healthcare LLC, a Houston-based healthcare real estate firm that plans to specialize in the development and acquisition of MOBs, medical office condos and integrated outpatient facilities. The new firm will initially target projects in the East and Southwest. Thomas T. O’Donohoe is the executive […]
PLAZA COS. AND HYATT BUY INTO AUTO DEALER’S UPSCALE ARIZONA PROJECT By Murray W. Wolf Part of the former Rawhide Old West Theme Town in northern Scottsdale, Ariz., will be transformed into a luxury continuing care retirement community (CCRC) if everything goes according to plans announced Nov. 8 by Plaza Cos. and Classic Residence by […]
PRICE OF PITTSBURGH FACILITY GROWS DUE TO ENHANCEMENTS, RISING COSTS By Murray W. Wolf The price tag for the new UPMC Children’s Hospital of Pittsburgh will be $102 million more than budgeted 14 months ago and more than double the cost anticipated in 2001. That’s according to the University of Pittsburgh Medical Center (UPMC) and […]
ATLANTA-AREA PROVIDER SELECTS MEADOWS & OHLY By Brian Busek Southern Regional Health System has selected Atlanta-area healthcare real estate developer Meadows & Ohly LLC to provide consulting and project management services for a new outpatient campus on about 92 acres in southern Clayton County, southeast of Atlanta. Preliminary plans are for an ambulatory campus that […]
MEDICAL OFFICE BUILDING PRICES KEEP RISING AND CAP RATES KEEP FALLING By John Mugford Statistics concerning nationwide sales of medical office buildings (MOBs) continue to tell a compelling and, for that matter, somewhat incredible story. In a nutshell, the story goes like this: More and more investors are looking to acquire MOBs, finding available product […]
BUT INDUSTRY GROWTH STILL SEEMS INEVITABLE by Murray W. Wolf Dear Reader: A new study found that 52 percent of the healthcare executives who were surveyed do not believe that U.S. health facilities will be able to adequately meet demand during the next five years. They were more concerned about access to capital than anything […]
LEXINGTON, Ky. – UK Medical Center at the University of Kentucky recently received approval from the university’s board of trustees for a $450 million expansion project that includes a 473-bed replacement hospital and a new parking garage. The new garage is the first phase of the project and is targeted for completion in March 2007. […]
MOST INDUSTRY SHIFTS ARE BEING DRIVEN BY MONEY By Jessica Griffith Factors from obesity rates to Hurricane Katrina will affect healthcare real estate in 2006, but all of the trends can be summarized in a single word: money. Old buildings are obsolete. New ones are expensive. And costs for both construction and capital improvements continue […]
REIT IS COMPLETING $241 MILLION, 22-ASSET DEAL By John Mugford Windrose Medical Properties Trust (NYSE: WRS), an Indianapolis-based, publicly traded and self-managed healthcare real estate investment trust (REIT), has a stated goal of acquiring about $100 million worth of medical office buildings (MOBs) annually. The company smashed that figure in one fell swoop last month […]
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